ST. LOUIS, Aug. 11, 2008 (PRIME NEWSWIRE) -- Solutia Inc. (NYSE:SOA) has announced a price increase of 10% across its Ascend(r) and Vydyne(r) polyamide 66 (PA66) resins worldwide. This increase applies to orders shipped on or after September 1 and will be applied across the Ascend and Vydyne product families.
Key raw material costs continue to climb forcing an additional price increase to the previously announced July 1 increase. In addition, the rise in transportation and energy prices has impacted shipping and freight costs. To continue to supply quality products and meet growing market demands, it is essential to implement this price increase.
A world leader in nylon plastics and polymers, Solutia is committed to providing the highest-quality products, superior customer service and world-class technical support. Solutia's Vydyne and Ascend polyamide resins and polymers add strength, durability and functionality to products in numerous industries such as automotive components, electronics and consumer goods. For more information, please visit www.ascendnylon.com and www.vydyne.com.
Note to Editors: Ascend and Vydyne are registered trademarks of Solutia Inc.
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Forward-Looking Statements
This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "may," "will," "intends," "plans," "estimates," "estimated," or "anticipates," or other comparable terminology, or by discussions of strategy, plans or intentions. These statements are based on management's current expectations and assumptions about the industries in which Solutia operates. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, those risk and uncertainties described in Solutia's most recent Annual Report on Form 10-K, including under "Cautionary Statement About Forward Looking Statements" and "Risk Factors," and Solutia's quarterly reports on Form 10-Q. These reports can be accessed through the "Investors" section of Solutia's website at www.solutia.com. Solutia disclaims any intent or obligation to update or revise any forward-looking statements in response to new information, unforeseen events, changed circumstances or any other occurrence.
Corporate Profile
Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex(r) interlayer for laminated glass; CPFilms(r) aftermarket window films sold under the LLumar(r) brand and others; high-performance nylon polymers and fibers sold under brands such as Vydyne(r) and Wear-Dated(r); and technical specialties including the Flexsys(r) family of chemicals for the rubber industry, Skydrol(r) aviation hydraulic fluid and Therminol(r) heat transfer fluid. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 6,000 employees in more than 60 locations. More information is available at www.Solutia.com.